Comments on AICPA's SME framework proposal due today

01/30/2013 | JournalofAccountancy.com

The AICPA's development of a financial reporting framework for small and medium-size entities will enter a new phase after today's deadline for submitting comment letters. After reviewing comments, the AICPA expects to issue the final framework this spring in an effort to meet financial statement users' needs while providing for streamlined, cost-effective financial reporting for SMEs that are not required to file U.S. GAAP statements.

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